FG targets N5trn revenue from non-oil export

The Nigerian Export Promotion council (NEPC) has disclosed that the Federal Government has concluded plans to grow Nigeria’s non-oil export earnings from the current N1.5 trillion to N5 trillion between the next three and four years.
NEPC Executive Director, Mr. Segun Awolowo, said this at a Round Table Export and Exhibition on Export Competency Development Programme recently in Abuja.
He said the earnings could rise to more than N10 trillion or $30 billion in the future, if there was support from the government.
He stated that Nigeria could earn $13 billion annually by 2025 from cocoa exports according to findings from studies conducted by the Council and the Applied Management Research Team of the University of California, Los Angeles last year.
Awolowo said that Nigeria had the capacity to attract key global players in the sector through forward integration in global value chain.
He noted that Nigeria’s exports in 2017 witnessed some positive developments given the establishment of cashew plantations across the country.
He revealed that only 10 per cent of Nigeria’s annual cashew production of 150,000 tonnes, were processed in Nigeria.
The NEPC Director noted that the National Committee on Export Promotion was recently inaugurated by the National Economic Management team to ensure effective co-ordination of the Zero Oil Plan in all the states of the federation.